MTS.AX finds buyers again around 2.46
Metcash Limited (MTS.AX) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, MTS.AX finished the week -7.12% lower at 2.48 after losing A$0.01 (-0.4%) today. Today's closing price of 2.48 marks the lowest close since October 11, 2017. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (MTS.AX as at Jul 13, 2018):
Friday's trading range was A$0.04 (1.61%), that's below last trading month's daily average range of A$0.09. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After having been unable to move lower than 2.46 in the previous session, the share found buyers again around the same price level today at 2.46.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.